Investment metrics, interactive calculators, and data-driven analysis for Erie rental properties.
Pre-filled with Erie medians. Adjust to match a specific property.
Factor in financing to see your actual return on invested capital in Erie.
Erie, PA has a population of 94,000 and has been growing at -0.4% annually — roughly in line with national trends, meaning demand is stable but not exceptional. The median home price of $135,000 paired with median rents of $880/mo produces an estimated cap rate of 5.07%.
Property taxes at 1.4% fall within the national average range and shouldn't present unusual challenges. The vacancy rate of 7% runs above average, which increases cash flow volatility and warrants conservative underwriting.
At a price-to-income ratio of 3.5x, homes cost about 3.5 times the local median income of $38,200. This relatively affordable ratio suggests a deep pool of renters who find buying out of reach, supporting rental demand. Home values have appreciated at roughly 1.7% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: Erie presents moderate opportunities. Cap rates near 5.07% mean deals need careful sourcing — look for value-add rehabs or emerging neighborhoods where rents are climbing.